Rollover IRA

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When it comes to growing your money over the long term, studies have shown that tax advantage is a major benefit, which is why tax-advantaged Individual Retirement Accounts (IRAs) and 401(k)s are so popular when it comes to saving for retirement. But one of the most important aspects of owning an IRA or 401(k) is knowing the best ways to approach taking income or withdrawals from those accounts. If you don’t know the rules, you can end up paying more in taxes than is necessary.

Learn How to Move Your Old 401(k) to a Rollover IRA

When it comes to taxation, there are basically three different types of investments: 1) regular taxable investments; 2) tax-free investments like Roth IRAs; and 3) tax-deferred investments like traditional IRAs and 401(k)s, which are taxable when you decide to withdraw your funds.

Taking advantage of the tax benefits that IRAs and 401(k)s provide can help boost the amount of income your investments can generate in retirement. However, since tax codes are constantly changing, you must make sure to keep up with the changes.

Through our tax minimization strategies, we can advise you on some of the best ways to withdraw funds from your qualified retirement accounts to help maximize the tax advantages offered by each one.

One of the services we offer to help you maximize your advantage is rolling over a 401(k) to an IRA. Doing so can not only provide you with access to more investment options, but it can also help to lower the fees you pay.

IRA Rollover to Roth IRA

Converting a 401(k) or regular IRA to a Roth IRA is another strategy that may provide certain tax benefits. For example, you could convert some funds in a qualified retirement account, like a 401(k), to a Roth IRA ahead of retirement. Although you’ll still owe taxes on the amount you convert, you won’t have to pay taxes on withdrawals you make later in retirement.

Speak with an Advisor Today

Give our office a call to schedule a complimentary consultation with one of our advisors so we can answer any IRA or 401(k) questions you might have, such as:

  • What is the cost to roll over a 401(k) to a Roth IRA?
  • What is the best time to convert a 401(k) to a Roth IRA?
  • Can I transfer my 401(k) to an IRA while still employed?

Get Your Retirement Planning Questions Answered

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Schedule a complimentary 30-minute call with one of our advisors.

You can also call us directly at (971) 404-8662